Bitwise Asset Management has taken another step in its efforts to launch the Hyperliquid spot exchange-traded fund in the US.
summary
- Bitwise has added a ticker and a fee to its Hyperliquid ETF filing with the Securities and Exchange Commission.
- Eric Balchunas said the latest filing details indicate the fund could be launched soon.
- Hyperliquid posted strong token gains and higher derivatives volume during the first quarter.
The company has filed a second amendment with the SEC, adding new details to its proposed product as competition in the category continues to grow.
The updated registration includes the BHYP index and a management fee of 0.67%. These additions often signal that a product may be closing in on the market, while other issuers continue to pursue similar funds tied to Hyperliquid, said Eric Balchunas, a senior ETF analyst at Bloomberg.
Balchon He said In a post on X, Bitwise updated its filing to include a BHYP ticker and a fee of 67 basis points. Such details usually mean the fund could “launch soon,” he said. He also noted that HYPE has risen sharply over the past year as issuers move to meet growing investor interest.
If approved, Bitwise’s product will trade on NYSE Arca and is intended to track the spot price of Hyperliquid. The filing marks the latest step in Bitwise’s endeavors to bring a fund tied to its perpetual cryptocurrency futures protocol and blockchain to the US market.
In addition, Bitwise was the first asset manager among the existing group to apply for a Hyperliquid ETF. The company submitted its proposal in September. 21 shares It followed one month later, while Grayscale I entered Racing in late March with his own deposit.
The latest adjustment keeps Bitwise in focus as companies compete to launch the first HYPE-linked spot fund. The category is still new, and approval will give investors a regulated way to gain exposure to the token through a traditional exchange-traded product.
The staking feature sets Bitwise apart
In its previous amendment Deposit As of December, Bitwise said the fund can also earn additional returns through HYPE stakes. This feature sets its proposal apart from filings from Grayscale and 21Shares, which did not explicitly state that their products would include accrued income.
This structure may give Bitwise a different position in the current race. It also shows how issuers are trying to shape crypto ETF products beyond simple spot exposure while they wait for the SEC to decide on approval.
Hyperliquid is recording strong growth in the market
Hyperliquid continues to gain traction in 2026. CoinGecko data Show HYPE’s price is up roughly 65% since the beginning of the year, trading at around $42 at the time of writing. Over the past 12 months, the value of the token has risen by approximately 176%.
The network also expanded its share of derivatives trading activity. CoinGlass reported in early April that Hyperliquid had entered the top 10 cryptocurrency derivatives platforms by volume.
The platform generated $492.7 billion in trading volume during the first quarter, putting it slightly below Coinbase at about $90 billion.
